With a virtual bookkeeper a small businesses can limit their overhead, outsourcing their accounting and bookkeeping tasks and save heaps.

1. 4 Top Benefits of
Hiring a Virtual
Bookkeeper

2. For small businesses and start-ups looking to limit their
overhead, outsourcing their accounting and
bookkeeping tasks makes business sense. They have
the option to hire an onsite or virtual bookkeeper to
perform these time-consuming yet essential
responsibilities. While some SMEs feel more
comfortable working with a part-time bookkeeper
onsite, more and more businesses are turning to virtual
bookkeepers because of the benefits they offer. So, if
you’re thinking of outsourcing work to a virtual
bookkeeper, you’re on the right track.

3. Functions of a Virtual Bookkeeper
Although a virtual bookkeeper is essentially an
independent contractor working online or remotely,
they can help you stay on top of your accounting and
bookkeeping needs just like an onsite employee.
They are usually well-versed with QuickBooks,
Peachtree, Xero and other accounting software and can
perform the following functions:

4. • Account servicing
• Accounts reconciliation
• Balance sheet management
• Bank and credit reconciliation
• Budgeting
• Cash flow projection
• Daily petty cash management
• Implementing record-keeping and accounting
procedures
• Inventory management

5. • Maintaining accounts
• Maintaining cash flow
• Payroll processing
• Report creation
• Revenue and expenditure management
• Sales and purchase order management
• Trial balance maintenance
• Year-end accounting

6. Reasons to Hire a Virtual Bookkeeper Hiring a virtual
bookkeeper comes with several benefits, including the
following four:
1. A fixed monthly retainer for no surprises
One of the biggest perks of getting a virtual bookkeeper
to perform accounting and bookkeeping tasks is that
you don’t need to worry about a surprise costs.
benefits and the equipment that a regular employee is
entitled to. All you have to do is hire a virtual
bookkeeper.

7. 2. Free up more of your time for important tasks
Even if you have an accounting background, it could be
difficult to manage your business and keep track of
your business finances, too. By hiring a virtual
bookkeeper, you’ll have more time to devote to other
important tasks, such as strategising, marketing or
getting more investors.

8. 3. Stay on top of payments and collections
By giving your virtual bookkeeper access to your
accounts and invoices, and records of creditors and
suppliers, they can check, update and follow up
payments. They can also track receipts, note accounts
payables and receivables, balance your accounts and
give you an accurate picture of your cash flow.

9. 4. Monitor your KPIs
Whatever your type of business, it’s essential to know
your company’s financial standing. You need three
major reports to determine this: cash flow statement,
income statement and cash disbursement schedule.
With a virtual bookkeeper’s help, monitoring your
business’s KPIs becomes so much easier. So, are you
ready to hire a virtual bookkeeper? Remember, getting
a virtual bookkeeper on board is a highly cost-effective
way of managing your business finances minus the
expenses of hiring a full-time accounting professional.